2 SIPP providers among 45 firms in default

The Financial Services Compensation Scheme has declared 45 firms in default between May and October including two signifcant SIPP providers and dozens of financial advice firms. The defaults, published in full today, open the door to investors to claim compensation from the FSCS. The defaults include SIPP providers Guinness Mahon Trust Corporation and Pointon York Limited. Among the advice firms declared in default are Kingsway Wealth Management of Wrexham; Halebarns Financial Planning of Cheshire; Opes Financial Planning Ltd of Ayrshire; Square Seven Financial Planning of Belfast and Wigan Financial Services of Wigan, Lancashire. Investment firms declared in default include the DFM Stargate Capital Management Limited (formerly Classic Fund Management Limited t/a Wealth Fortress DFM) of Queen Victoria Street, London. Caroline Rainbird, FSCS chief executive, said: “As chief executive, I see first-hand the important role FSCS plays to help people who have lost money through their dealings with financial services firms that have failed or are no longer trading. "The impact of their financial loss shouldn’t be underestimated. People who claim through FSCS are often vulnerable. We treat each person with empathy and understanding as their claim is progressed.” Since it began in 2001, FSCS has helped more than 4.5m consumers receive compensation. The 45 firms declared in default by the FSCS between May and October 2020: May 2020 – 2 firms: Kingsway Wealth Management Limited, FRN: 452538, Pembroke House, Ellice Way, Wrexham Technology Park, Wrexham, Clwyd, LL13 7YTMarshall James & Company Financial Management Services, FRN: 121600, The Bank, 1 Highfield Road, Hall Green, Birmingham, B28 0EL June 2020 – 15 firms: Acorn Financial Solutions (Wessex) Limited , FRN: 453407, 32 Ashwood Drive, Broadstone, Dorset, BH18 8LNCannonbridge Corporation Limited Formerly Cannon Bridge Clearing Limited, FRN: 146362, 2nd Floor, Berkeley Square House, London, W1J6BDCapital & Income Solutions Limited, FRN: 462885, 50 Trinity Way, Salford, Lancashire, M3 7FXDirect Mortgage Centre, FRN: 300471, 87 Burdett Road, London, E3 4JNFinancial Solutions Midhurst Limited t/a AMPF and FSML Wealth, FRN: 459575, Suite 16, Chilgrove Business Centre, Chilgrove, West Sussex, PO18 9HUHalebarns Financial Planning Ltd Formerly Kidd & Co (IFA) Ltd, FRN: 195937, 12 Princess Street, Knutsford, Cheshire, WA166DDJP Financial Management Ltd, FRN: 460241, Unit 2, The Sidings, Station Road, Shepreth, Royston, SG8 6PZKingfisher Financial Strategies Limited, FRN: 587708, Butcher Woods Corporate Recovery, St. Pauls Terrace, 79 Caroline Street, Birmingham, West Midlands, B31UPMorgan Finance, FRN: 144883, Penderyn, Ferryside, Dyfed, SA17 5RSPentagon Capital Management Plc, FRN: 189239, 88 Baker Street, London, W1U 6TQPinnacle Autocentre (Falkirk) Limited, FRN: 308723, Pinnacle Autocentre, Kerse Road, Stirling, Stirlingshire, FK7 7LAPointon York Limited formerly Pointon York Sipp Solutions Limited, FRN: 309975, CBA Business Solution Limited, 126 New Walk, Leicester, LE1 7JARabrose Mortgage Services, FRN: 301702, 493b Wimborne Road, Bournemouth, Dorset, BH9 2AWStargate Capital Management Limited formerly Classic Fund Management Limited t/a Wealth Fortress DFM, FRN: 191763, 71 Queen Victoria Street, London, EC4V 4BEWillis of Alnwick Limited, FRN: 311691, South Road, Alnwick, Northumberland, NE66 2PG July 2020 – 5 firms: B Financial Management LLP, FRN: 496770, 42 Claremont Road, Morecambe, Lancashire, LA4 4HLColt Cars Mid-West Limited, FRN: 311434, Watermoor Road, Cirencester, Gloucestershire, GL7 1LFOpes Financial Planning Ltd Formerly Money Advice Partnership Limited, FRN: 533104, Unit 6, Ladykirk Business Park, Skye Road, Prestwick, Ayrshire, KA9 2TAO'Toole & Associates LLP t/a O&A, O&A Pension & Investment Specialists, FRN: 466357, The Cottage, 45 Blackstaff Road, Downpatrick, County Down, BT30 8SRPS Employee Benefits Limited t/a Bellpenny, TQ Employee Benefits and Torquil Clark Employee Benefits, FRN: 190545, 45 Church Street, Birmingham, West Midlands, B3 2RT August 2020 – 5 firms: L & L Garages Limited formerly Swain & Jones Ltd, FRN: 305660, Highfield Court, Tollgate, Chandler's Ford, Eastleigh, Hampshire, SO53 3TYMulticorp Rose Limited formerly Multicorp Rose Group Limited, FRN: 197540, C/O Begbies Traynor, 340 Deansgate, Manchester, M3 4LYR J Boorer and Associates Limited Formerly R J Boorer Limited, FRN: 192004, 50 Brighton Road, Surbiton, Surrey, KT6 5PLS & M Hughes Limited t/a Crescent Financial, FRN: 566837, 69 Walter Road, Swansea, West Glamorgan, SA14QASquare Seven Financial Planning LLP t/a Square Seven, FRN: 434875, Alexander House, 478 Castlereagh Road, Belfast, BT5 6BQ September 2020 – 13 firms: A Luckhurst & N Shaw t/a BBT Financial Services, FRN: 147352, Wrens Court, 62 Victoria Road, Sutton Coldfield, West Midalnds, B72 1SYAgincourt Financial Limited T/A Alecto Financial Limited formerly Alecto Financial Limited, FRN: 197236, Millennia House, Kingswood Park, Bonsor Drive, Kingswood, Surrey, KT20 6AYBaronworth (Investment Services) Limited, FRN: 115284, 370 Cranbrook Road, Gants Hill, Ilford, Essex, IG2 6HYConnected Financial Services Ltd t/a Otium Finance & Rothgen Capital, FRN: 670425, Floor 7, Townend House, Wisemore, Walsall, West Midlands, WS11NSCourtover Investment Management Limited t/a City Private Clients, FRN: 182710, 156 St Helens Road, Swansea, West Glamorgan, SA1 4DGDNG Financial Solutions Limited T/A Succession Group, FRN: 472596, 14 Cottesbrooke Park, Heartlands Business Park, Daventry, Northamptonshire, NN11 8YLHopper & Co (Scotland) Limited, FRN: 190743, 8 Main Street, Prestwick, KA9 1NXMulbury Hamilton Financial Management Limited, FRN: 302200, 32a Station Approach, Hayes, Bromley, Kent, BR2 7EHPalace Motor Finance Limited Formerly London & Surrey Motor Finance Limited, FRN: 309545, London & Surrey Finance Ltd, 23 Rectory Lane, Banstead, Surrey, SM7 3PPRees Caddick Garages Limited TA Lakeside Volkswagen, FRN: 310603, Lakeside Volkswagen, Stanley Matthews Way, Stoke On Trent, Staffordshire, ST4 4DDREX Financial Services LLP, FRN: 798939, Unit 4, Edison Court, Ellice Way, Wrexham Technology Park, Wrexham, Wrecsam, LL13 7YTWellington Financial Management Limited, FRN: 447881, 3 Carlton Court, Great Wilson Street, Hoveringham, Nottingham, Leeds, LS11 5ADWigan Financial Services, FRN:116098, 41 St James Road, Orrell, Wigan, Lancashire, WN5 8SS October 2020 – 5 firms: B&G Finance Limited, FRN: 788684, Finsbury House, 23 Finsbury Circus, London, EC2M7EAEast West Insurance Company Limited, FRN: 202806, 20 Old Broad Street, London, EC2N1DPGuinness Mahon Trust Corporation Limited, FRN: 464432, 3 Castlefield Court, Church Street, Reigate, Surrey, RH20AHIndependent Financial Services, FRN: 189578, 62a Landywood Enterprise Park, Holly Lane, Great Wyrley, Staffs, WS6 6BDIntuitive Associates Limited t/a Intuitive Financial Associates, FRN: 782809, Corner House, Robey Close, Linby, Nottingham, NG158AA

2 SIPP providers among 45 firms in default

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